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SBD Global/August 7, 2012/Finance

World Cup Boosts Spending In New Zealand, Minus Accomodations

Analysis of overseas tourists' Visa card data shows the Rugby World Cup helped a 1.5% boost "in spending on the plastic last year, but visitors appear to have been put off paying for pricey accommodation," according to Grant Bradley of the NEW ZEALAND HERALD. Spending from "two big traditional markets dropped while the biggest percentage rise in spending came from China." Int'l Visa card holders spent just more than $2B in New Zealand last year -- $30M more than they did in '10. Of the domestic amount, Chinese spent $53.6M, and Australia topped the list at $625M, up 57% and 5.6%, respectively. However, spending out of Britain dropped 8.4% to $356.8M and U.S. spending dropped 5% to $219M. High asking prices and the decision of potential travellers to delay journeys to New Zealand had affected spending on accommodation, which dropped 1.6% to $222M. Visa New Zealand Manager Sean Preston said, "During the Rugby World Cup, a lot of hotels ramped up their prices, so a lot of businesses cut back their travel for reasons of cost" (NEW ZEALAND HERALD, 8/6).
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